Public and Private Markets

Private markets have recently experienced notable growth in Australia and abroad, while the number of initial public offerings on public equity markets has declined and more companies are de-listing. This is a global trend.

In addition, the growth of Australia’s superannuation funds under management is increasingly influencing the shape of our markets and where and how capital is deployed in our economy and internationally.

Earlier this year, ASIC launched a discussion paper on the shifting capital market dynamics, announcing its preliminary views on the opportunities and risks, and calling for feedback and debate.

ASIC wants to strengthen efficiency and integrity across markets, with a focus on cleanliness, access and participation in our public listing markets and changing risk in private markets.

The critical point for ASIC is whether there is a need for strategic interventions to address risk or adjustment to how regulation operates in the interests of development of our capital markets and to promote confident and informed participation of investors and consumers in those markets.

Downloads

• Discussion paper Australia’s evolving capital markets: A discussion paper on the dynamics between public and private markets
• REP 814 Private credit in Australia
• REP 820 Private credit surveillance report: Retail and wholesale surveillance
• REP 821 Private capital market reporting: Global practices and lessons
• REP 822 Australia’s capital markets: Forces shaping the next decade
• REP 823 Advancing Australia’s evolving capital markets: Discussion paper response report
• ASIC's roadmap for the next 12-18 months (extract from REP 823)
• Private credit funds - Compliance issues informing ASIC's actions (extract from REP 823)
• Principles for private credit funds done well (extract from REP 823)

Related links

26 February 2025

• 25-021MR Advancing Australia’s regulatory roadmap for public and private capital markets

4 June 2025

• 25-094MR ASIC releases submissions to evolving public and private markets discussion paper
• Inside ASIC podcast Public Private Markets
• Conexus Fiduciary Investors Symposium speech

10 June 2025

• 25-096MR ASIC clears path for faster IPOs
• ASIC Symposium: Australia’s Public and Private Markets

6 August 2025

• 25-154MR Enhancing competition and innovation in Australia’s evolving capital markets

22 September 2025

• 25-209MR ASIC signals opportunity for industry to lift private credit standards 
• Advancing Australia’s public and private markets: progress update

5 November 2025

• 25-264MR A roadmap for capital markets to grow our economy
• Open for opportunity: Taking charge of the future of our financial markets speech
• National Press Club Q&A – Joe Longo